Vietnamese cashew nuts account for half of the market share in Russia

Published 2021년 4월 5일

Tridge summary

Russian cashew imports experienced a significant growth from 5.1 thousand tons in 2016 to 10.7 thousand tons in 2020, marking a 22.1% annual increase in volume. The monetary value also surged from $26.52 million in 2016 to $45.2 million in 2020, showing a 22.54% annual growth rate. Despite the COVID-19 pandemic, Russia's cashew imports in 2020 slightly decreased compared to the previous year but remained higher than the historical averages. Vietnam emerged as the leading supplier, contributing to 55.66% of the total imports in 2020, followed by Belarus with a 40.7% market share. The article underscores the need for the Vietnamese cashew industry to understand Russian consumer preferences and enhance product quality to retain and grow its market share in the face of increasing competition from Belarus.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

According to statistics from the International Trade Center, Russian cashew imports in the 2016-2020 period grew by an average of 22.1% / year (by volume), from 5.1 thousand tons in 2016, up to 10.7 thousand tons in 2020. In terms of value, Russian cashew imports in the 2016-2020 period will grow by an average of 22.54% / year, from $ 26.52 million. in 2016, to $ 45.2 million in 2020. In 2020, due to the impact of the COVID-19 pandemic, Russia's cashew imports decreased compared to 2019, but still higher than the previous years. According to statistics from the International Trade Center, Russia's cashew imports in 2020 reached 10.7 thousand tons, worth $ 45.2 million, down 8% in volume and 34.4% in value. price compared to 2019. Vietnam is the largest supplier of cashew nuts to Russia in 2020, the import volume is approximately 6 thousand tons, worth 37.7 million USD, down 15.7% in volume and 34 in volume, 8% in value compared to 2019. Vietnam's market share of cashew nuts in ...

Source: Vinacas